Finance

Stronger-than-expected corporate profits for the spring quarter helped lift traditional industrial and consumer companies. Household brands like Coca-Cola and Boeing advanced notably after reporting resilient financial metrics and raising full-year outlooks, stabilizing the broader market.

The Federal Open Market Committee commenced its two-day policy meeting under a cloud of uncertainty. While consensus leans toward the central bank holding rates steady, persistent inflation signals and elevated energy costs have caused a notable portion of market participants to brace for a surprise rate increase.

Shares of Apple climbed in morning trading, pushing the tech giant's market capitalization to a brief peak of $5 trillion. The valuation achievement comes as a notable exception in Silicon Valley's ongoing hardware reevaluation, during which competitors like Nvidia have faced pressure from shifting artificial intelligence infrastructure spending.